Eating out this festive period? Download this free app to split expenses with friends.

You know the drill: a big group of friends heads out for a jolly dinner. Several bottles of red wine later, it seems like too much trouble to divide the bill and chuck in a mountain of cards or – horror of horrors – cash. You magnanimously agree to take the hit yourself and send everyone your bank details for repayment later. Do you get all of your money back? Hell no.

Well, those days are gone. With the Splitwise app, you can share bills and IOUs from holidays, flat-shares and meals out on your smartphone through PayPal.

Founded in Providence, Rhode Island, in 2011, by former astrophysics student, Jonathan Bittner and two others, Splitwise is keen to keep its focus on fairness. The team says: “Most people want to be fair to each other, but sometimes they forget, or can’t decide on what fair is.” This is where the canny little app comes in, banishing the need for cash or receipts – or even a particularly good memory.

The New York Times included Splitwise in its “Favourite Tools to Stay on Top of Your Financial Life” feature in August 2018, saying: “This phone app makes it easy to split everything from your dinner bill to rent. It will also calculate everyone’s share and keep track of any IOUs.

“It’s best for renters with multiple roommates, but works well for any kind of transactions that need splitting.”

Reviewers rave about Splitwise, too.

One says: “I love this app so much. My flatmates and I used to have to do this manually with pen and paper but now Splitwise does it for us!”

Another claims: “Splitwise really helped us keep track of our complicated series of expenses, which included multiple payers and unequal splitting. At the end of our trip, there was no hassle trying to calculate how much each person owes or is owed.”

This is a brilliant example of clever technology making modern life easier – without a single downside in sight.

November 2018